Contracts, Invoices & Legal

The ongoing government shutdown prevented the Bureau of Labor Statistics from releasing its September jobs report Friday, but job growth appears to be softening. The lack of reliable government data comes as the Federal Reserve mulls further interest rate cuts. View the full article

Rate-and-term transactions leaped by 154% from August to September, while cash-outs and purchase loans also increased, according to Optimal Blue. View the full article

The NRMLA/Riskspan Reverse Mortgage Market Index set a new high of 502.42, with the dollar amount of home equity for those 62 or over reaching $14.4 trillion. View the full article

The influential nonbank mortgage company is calling for a "do no harm" approach to housing and finds comfort in officials' stated guardrails to that end. View the full article

Lenders and investors say the new rules will increase the cost of financing and limit homeowners' access to equity by curbing the enforceability of contracts. View the full article

Instances of miscommunication between servicers and borrowers have declined, but some warn that CFPB stepping back from enforcement could create oversight gaps. View the full article

Private-sector payrolls increased by 42,000 after a revised 29,000 decline a month earlier, according to ADP Research data released Wednesday. View the full article

Industry professionals shared stories of homeowners looking to get out and investors pausing deals, while others cautioned a wait-and-see approach. View the full article

The company posted its best quarter for funded loan volume and shared other green shoots including greater margins on less reverse mortgage business. View the full article

The 30-year fixed-rate mortgage rose five basis points from last week to 6.22%, while the 15-year rate increased nine basis points to 5.50% View the full article

Company leaders said current strategy sets it up to profit and compete against its rivals as the mortgage market improves in the coming months. View the full article

A 50-year mortgage on a median-priced US home could reduce borrower's monthly repayment, but also double the amount of interest the owner pays over the life of the loan, according to UBS Group AG analysts. View the full article

Yields were higher by as much as three basis points, led by tenors more sensitive to changes in Fed policy. View the full article

The mortgage company, even though it is owned by a bank, has been profitable for the last two years, when considering its originations operations, as it does. View the full article

While Fitch and Kroll have differing views on mortgage rates next year, both are looking for mortgage delinquencies to rise in their rated portfolios. View the full article

Policy reviews of GSEs and Basel rules could reshape the MSR market, opening opportunities for banks and altering Fannie, Freddie MBS dynamics. View the full article

Federal Reserve Governor Lisa Cook's legal team argued in a new letter to Attorney General Pam Bondi that the claims "fail on even the most cursory look at the facts." View the full article

Quality Control Advisor Plus is an integrated system which brings together previously separate units, cutting months off of Freddie Mac's current QC process. View the full article

Home Depot's bleak forecast provides another warning about the strength of US consumers in the absence of official economic data during the US government shutdown. View the full article

The national median payment applied for by purchase applicants fell to $2,039 in October from September, the Mortgage Bankers Association said. View the full article

At issue is the CFPB's weekly publication of Average Prime Offer Rate tables, a key benchmark enabling the smooth operation of the $13 trillion residential mortgage market. View the full article

The additional research Secretary Scott Turner acknowledged would be required should include a cost-benefit analysis, mortgage professionals suggested. View the full article

Wells Fargo, JPMorgan Chase, U.S. Bancorp and Citigroup will streamline borrower requests for an additional 90-day forbearance, allowing verbal applications. View the full article

Largely strong credit qualities were offset because by loans on single-family homes in the pool dropping by 0.5%, and that the percentage of loans that received due diligence decreased by 0.4%. View the full article

Federal Reserve Chair Jerome Powell said the central bank has been served grand jury subpoenas and been threatened with criminal indictment, moves he called "pretexts" to influence interest rates through "political pressure or intimidation." View the full article